First TVs, now tortilla chips: American companies set minimum prices to stop discounting

NEW YORK, Nov. 17 (Reuters) – Makers of everything from toys to wafers are increasingly placing minimum prices on their items to maintain profits and limit price cuts as retailers like Walmart do so. (WMT.N) and Amazon.com Inc (AMZN.O) Trying to attract sales from each other over the Internet. As a result, shoppers are faced … Read more

Trump’s 2024 presidential bid was a new wrinkle for the markets

NEW YORK (Reuters) – Former President Donald Trump’s entry into the 2024 presidential race on Tuesday confirmed the world’s “worst-kept secrets” and created another variable for markets that some investors say remains a low priority for now. Trump, who has launched relentless attacks on voting integrity in the United States since his defeat in the … Read more

Exclusive: Tesla considering exporting Chinese-made electric cars to US sources

SHANGHAI, November 11 (Reuters) – TESLA (TSLA.O) Two people familiar with the planning are considering exporting electric cars made in China to the United States, a reversal that would reflect the automaker’s deep cost advantage at its Shanghai plant and sluggish demand from Chinese consumers. Tesla is studying whether parts made by its suppliers in … Read more

Musk warns of Twitter bankruptcy as more CEOs resign

(Reuters) – Twitter’s new owner Elon Musk on Thursday raised the possibility of the social media platform’s bankruptcy, capping a chaotic day that included a warning from the US privacy regulator and the exit of the company’s trust and safety leader. In his first conference call with employees, the billionaire said he couldn’t rule out … Read more

As the yen drops, gadget-loving Japan turns to used iPhones

TOKYO (Reuters) – For years Japanese shoppers have been eagerly waiting for the latest hardware, but now a weaker yen has put new iPhones out of reach for some and sparked a growing second-hand trade in a key market for Apple Inc. (AAPL.O). The Japanese currency’s slide to a 32-year low against the dollar has … Read more

China’s COVID restrictions affected iPhone production, Shanghai Disney closed

Big iPhone factory may see 30% drop in production in November source Shanghai Disney Resort closes, visitors stay inside for testing China’s October PMI unexpectedly weak Gaming center in Macau reimposes COVID restrictions BEIJING (Reuters) – China’s COVID-19 restrictions forced the temporary closure of a Shanghai Disney resort on Monday, while production of Apple’s iPhones … Read more

Russia says the British Navy blew up Nord Stream, and London denies involvement

Russia says British Navy personnel have blown up pipelines Russia says British naval personnel helped attack Crimea Russia does not provide evidence for the claim Britain denies the Russian allegations Russia says it will seek the attention of the United Nations LONDON (Reuters) – The Russian Defense Ministry said on Saturday that British naval personnel … Read more

Analysis: Tech wreck shows big US corporations are not immune to corrosive Fed tightening

NEW YORK (Reuters) – Disappointing profits from the giants that drove markets higher for years sent their shares crashing and sends a worrying message about a US economy that until recently appeared to be facing a barrage of interest rate increases. Amazon (AMZN.O) The giant was the latest to provide bad news, saying on Thursday … Read more

US exclusive alleges Seagate breached export rules to sell Huawei hard drive sources

Oct 26 (Reuters) – Seagate Technology Holdings said in a filing on Wednesday that the U.S. government warned the company that it may have violated export control laws by providing hard drives to a customer that a source familiar with the situation said was Huawei Technologies (HWT.UL). Reuters first reported the disclosure on Wednesday and … Read more

Analysis: Poor countries are at risk from elusive G-20 debt relief efforts

LONDON/WASHINGTON (Reuters) – The failure to make concrete progress on debt relief for the world’s poorest countries at the annual meeting of the International Monetary Fund and World Bank in Washington frustrated policymakers, activists and investors. Two years ago, the Group of Twenty launched the Joint Framework – a mechanism designed to provide a rapid … Read more